... Former U.S. Senator Cabinet Secretary and other members of bipart...WASHINGTON Nov. 4 /- After a long and gruelingPresident...Companies doing business with or regulated by the federal governmentw...Members of Venable's diverse legislative and regulatory team who have...

Former U.S. Senator, Cabinet Secretary and other members of bipartisan
group of Capitol Hill veterans anticipate major shifts in financial
services, healthcare, energy, transportation, trade, labor and employment,
and tax policy

WASHINGTON, Nov. 4 /PRNewswire/ -- After a long and grueling
Presidential campaign, one thing is certain: change is coming to
Washington, DC.

Companies doing business with or regulated by the federal government
will face a new oversight and regulatory environment. Major overhauls to
the nation's tax and healthcare systems are on the table, while the nation
still faces high-visibility challenges in crafting a plan for an economic
recovery and answers to the gyrating energy sector. At the same time,
less-visible but just as severe threats, such as the nation's crumbling
transportation infrastructure, will demand the attention of the next
Administration.

Members of Venable's diverse legislative and regulatory team, who have
served in the highest offices of government, including both a Senator and a
cabinet member, as well as senior government attorneys and professionals
from both sides of the political aisle, with backgrounds in the Executive
Branch, both houses of Congress and also policy wings of both parties,
offer a few projections for the industries and issues at the forefront of
the 2008 Presidential election.

Former U.S. Senator Birch Bayh, fresh from campaigning, notes that the
new President's experience in the Senate will almost certainly result in a
better working relationship with Congress. "George W. Bush took a 'my way
or the highway' approach to dealing with Congress," said Bayh. "Obama,
McCain and Biden all come from the Senate and have worked closely with
other members throughout their careers. Because of that, I think you will
see a much more collaborative approach toward Senators and Congressmen from
both sides of the aisle."

Bayh represented Indiana in the United States Senate for more than 18
years and spent the month of October campaigning for Barack Obama in
Indiana. He believes the election's key question is whether the Democrats,
who are poised to pick up an historic number of seats in Congress, will
secure a majority that can consistently deliver the 60 votes needed to
defeat a filibuster in the Senate. "If the Democrats hold 60 seats in the
Senate, it will be a good news/bad news proposition," he said. "The good
news is that they will be able to push through legislation, the bad news is
if they fail to do that, they will have no one to blame but themselves."

Former U.S. Secretary of Transportation James Burnley notes that the
Highway Trust Fund is now in the red, leading to a looming infrastructure
crisis on the nation's roads.

"Because Americans have started driving less and buying more
fuel-efficient cars, the Highway Trust Fund, which is supported by fuel
taxes, is in crisis," Burnley said. "Congress solved the immediate problems
in September by transferring $8 billion in general revenues into the trust
fund. But there is a long term, systemic revenue crisis for which there is
no obvious politically viable solution. Senator Obama has endorsed a $60
billion National Infrastructure Bank, but this cannot close the revenue
shortfall to fund the existing commitments, much less support a bigger set
of highway and transit programs."

Note: One of the American Lawyer's top 100 law firms, Venable LLP has
attorneys practicing in all areas of corporate and business law, complex
litigation, intellectual property and government affairs. Venable serves
corporate, institutional, governmental, nonprofit and individual clients
throughout the U.S. and around the world from its headquarters in
Washington, D.C. and offices in California, Maryland, New York and
Virginia. For more, visit http://www.venable.com.

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